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PancakeSwap has partnered with Binance Earn to offer Simple Staking
PancakeSwap has partnered with Binance Earn to offer Simple Staking. This allows PancakeSwap users to enjoy the single-sided staking of popular tokens such as CAKE, USDC and USDT on the BNB Chain, supported by Binance Simple Earn.
Instead of the usual staking in Farms and liquidity pools with pairs of assets, Simple staking allows you to earn yield by staking a single type of asset. This simplifies the staking process for you.
Simple Staking offers a variety of popular tokens to earn yield. As we expand this feature, you’ll have more options to choose from your favorite tokens.
No Impermanent Loss: Unlike AMMs, you won’t face impermanent loss because you’re staking only one token, not a pair.
Hassle-Free Staking: No need to manage different positions or move tokens around as with other yield Farming methods.
Daily Accural: You'll earn rewards daily based on the APR rate and can claim them at the end of the staking period. The longer you commit to staking, the higher your APR.
Simple Staking provides a convenient and hassle-free way to stake crypto tokens and earn staking rewards. Users can earn daily rewards via staking their tokens for a locked period of 30, 60 or 90 days.
Your tokens will earn daily rewards based on the daily APR rate for the lock period, calculated as follows:
The staking rewards are distributed daily from 12:00 UTC on the day after the funds are deposited into the staking pool to the end of the staking period. For example, if a user stakes 1000 CAKE in the 90D pool at 30 Sep 2023 14:00 UTC, the first reward will be distributed at 1 Oct 2023 12:00 UTC, and the last reward will be distributed at 3 Feb 2024 12:00 UTC. All the daily distributed rewards can only be claimed after the end of the staking reward.
Do note that APR is subject to changes daily. The estimated rewards shown at the start of the locked staking period may differ slightly from the actual rewards generated.
Users can claim their rewards at the end of the simple staking period, which is 30, 60 or 90 days from the locked date. The user must unstake the tokens by interacting with the Simple Staking portal. Users can also claim rewards and restake their principal to restart the Simple Staking period. For users who have not claimed or unstake their funds, it will continue to accrue daily rewards at a significantly lower rate. More Information can be found in the how-to guide.
Tokens will not be withdrawable in the first third of the staking period (eg. First 10 out of 30D for 30D pool). Tokens will be withdrawable at a 15% penalty fee for the second third of the staking period and 2% for the last third of the staking period. For more information on withdrawal refer to the FAQ section.